Chemicals company BASF has signed an agreement with Derbyshire-based Recticel to acquire the company’s global compounds division for polyurethane (PU) systems.

The transaction is subject to approval from anti-trust authorities and will include the purchase of Recticel’s patented aliphatic light stable compounds under the Colofast brand name.

Recticel’s PU technology is used mainly in the connection of glass panes to car bodies and has been employed in seven per cent of all glass encapsulations in the automotive industry.

Future applications may include the use of PU technology to simplify and speed up the production process of solar panels.